Global Equipment Asset Tags Market Is Likely to Experience a Tremendous Growth by 2028

The global equipment asset tags market is anticipated to grow at a CAGR of 5.6% during the forecast period (2022-2028). The global equipment asset tags market is growing due to the increasing government initiative and investment in the construction industry. The improved regulatory compliance regarding safety concerns around hazardous material is boosting the growth of the market. The rise in disposable income coupled with rapid urbanization is driving the growth of the market. The changing consumer lifestyle and their increasing expenditure towards asset tags for securing their devices are propelling the growth of the market. The increasing demand for asset tags owing to their advantages to ensure efficient workflow, reduce administrative overhead, and keep tools and equipment in good working order is further expected to propel the growth of the market. The increasing demand for equipment asset tags coupled with mounting pressure on environmental sustainability is further expected to propel the growth of the equipment asset tags market duringthe forecast period. The North American equipment asset tags market is anticipated to hold the prominent share due to the increasing demand for asset tags from the transportation & logistics and automotive sectors. The increasing demand for a greater need for safety and security, as well as more efficient operations and supply chains, is further propelling the growth of the North American equipment asset tags market.

Some major players in the market include 3M, Avery Dennison, Brady Corp., CCL Industries, Cenveo, Inc., Dunmore Corp., and H.B. Fuller, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,
• In September 2021, Mirion Technologies, Inc., launched Orion™ Real-Time Location System ("Orion RTLS") this systems supports critical work path efficiency, worker safety, asset location and dose management activities and uses real-time location compatible devices and asset tags.

• In June 2021, Inpixon launched Inpixon Asset Tag, active radio frequency (RF) tag for long-range, real-time location system (RTLS) asset tracking. This new compises of P65-rated housing, will come pre-configured and ready to use with Inpixon's 2.4 GHz chirp technology such as nanoLOC, swarm bee, nanoANQ PCB anchor circuit board and the nanoLES location engine.

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Market Coverage
• The market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape-, 3M, Avery Dennison, Brady Corp., CCL Industries, Cenveo, Inc., Dunmore Corp., and H.B. Fuller, among others.

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Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

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Global Equipment Asset Tags Market Report by Segment

By Type
• Copper Plate Paper
• Metal
• Polymer

By Application
• Transportation & Logistics
• Construction
• Automotive
• Consumer Durables
• Others

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This release was published on openPR.